Insurance companies face significant challenges, such as these, in the currently changing environment:
How does one participate profitably in the rapidly growing life and non life insurance companies? What is the impact of the financial crisis on the insurance industry? What are the future business models in life insurance? How can a company be lean today and still build the next generation operating model?
What are the levers for distribution excellence? How does an insurer manage multiple channels of distribution? Considering the established vs new channels, the profitable vs the not so profitable channels, and so on.
What are the changes in customers' thinking and behavior? As the economy matures and customers get more aware of their requirements, how does that impact the insurance needs of the customers as also their buying behavior? And hence, how do insurers organize to serve the more aware customers?
What is the implication of the move toward economic capital management (for example, Solvency II requirements)?
BCG’s Insurance Practice brings to its clients solutions to ensure high value creation and further growth by analyzing the dynamics of the insurance industry and designing the industry’s future landscape. Our expertise extends to every business line of the insurance industry and every link on the value chain across all regions. We have supported life insurers, non life insurers health insurers, insurance assistance services providers, and across ownership forms—public sector and private.
The insurance practice leverages a strong global platform to share best practices and trends through both topic and regional leaders. In addition, the practice has local experts who provide insights into specific individual insurance markets. The team comprises more than 150 experts on five continents and thus has a global knowledge base.